JPMorgan Draws Attention To This Altcoin Market: In Its Infancy!

JPMorgan says decentralized finance (DeFi) has a lot of growth potential. According to JPMorgan, DeFi is still an altcoin market in its infancy, but its growth is greatly exaggerated. Banking giant JPMorgan states in its latest research note that the decentralized financial sector (Defi) has plenty of room for growth. Details on the subject are on Cryptoify.

DeFi Market as an altcoin type

Renowned analyst Nikolaos Panigirtzoglou writes that the industry is still in its infancy, saying: “There is little doubt that DeFi is still in its early stages and therefore has the potential to grow over time.” However, Panigirtzoglou also points out that DeFi needs to overcome regulatory hurdles as it moves through its growth process. He also states that the growth of the sector, while impressive, tends to be exaggerated. According to DeFi Pulse, the amount of value locked in various protocols has grown from about $13 billion a year ago to $111 billion. According to the report, Ethereum (ETH) accounts for 70% of the DeFi market.

MicroStrategy CEO Michael Saylor recently drew attention to the risks faced by DeFi in arguing that Bitcoin (BTC) is the only investmentable asset. US Securities and Exchange Commissioner Caroline Crenshaw highlighted the need to establish a solid regulatory framework for DeFi, which she claims lacks transparency. As reported by various sources, the SEC has reportedly started investigating one of the leading decentralized exchanges, Uniswap.

Follow us on Twitter, Facebook, and Instagram to be instantly informed about the latest news.

Follow